Trump to add $100,000 application fee to H-1B foreign worker visas

In a significant policy shift, former President Trump plans to introduce a $100,000 application fee for H-1B foreign worker visas, a move that has already led to a decline in shares of IT consulting firms. This change is particularly impactful for Silicon Valley, where many companies rely on H-1B visas to hire skilled foreign talent. The increase in costs could deter businesses from applying for these visas, potentially leading to a talent shortage in the tech industry. This news matters as it highlights the ongoing debate over immigration policies and their effects on the economy.